National Instrument 81-106 -
Investment Fund Continuous Disclosure, which came into effect on June
1, 2005, requires disclosure of the proxy voting record on an annual basis
for the period ending on June 30 of each year. The proxy voting record
must be posted on the website no later than August 31 of each year.

National Instrument 81-106 provides that the manager of the investment
funds (CI Investments Inc. ("CI")), acting
on behalf of the investment funds, has the right and obligation to vote
proxies relating to the investment fund's portfolio securities. As a practical
matter, CI delegates this function to the applicable portfolio manager,
as part of the portfolio manager's general management of the investment
fund assets, subject to oversight by CI. CI generally requires that applicable
portfolio managers vote all proxies in the best interest of CI's funds
and their securityholders, as determined solely by the portfolio manager
and subject to CI's proxy voting policy, the guidelines applicable to
the individual portfolio manager, and applicable legislation. Portfolio
managers are generally expected to vote on any matter for which the investment
fund receives proxy materials for a meeting of securityholders of an issuer.

Click here to access the proxy voting record for the most recent year.